Oil in Best 5-Day Rally Since '09 on Yemen

U.S. oil jumped 3.9 percent by 7:11 a.m. in London, taking its advance since March 19 to 16 percent, the most on a closing basis since February 2011, while Brent briefly approached $60 a barrel. Saudi Arabia’s bombing of Shiite rebels in Yemen marks an escalation in tensions with Iran, which the world’s largest oil exporter blames for fomenting trouble in its southern neighbor. “The latest tension in the middle east adds another geopolitical risk to the market,” said Warut Siwasariyanon, the Bangkok-based head of research at Asia Wealth Securities Co. “It’s extra noise that may prompt investors to reduce their risk positions. Brent gained 3.4 percent to $58.43 a barrel in London after surging as much as 5.7 percent to $59.71.



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